Can President Obama just ignore the debt limit?

Townhall Staff

Jul 05, 2011 2:09 PM Jul 05, 2011

Opinion

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The debt limit standoff is getting more serious by the day. Republicans continue to insist that they won’t vote for any deal to cut the deficit and raise the debt limit ceiling that includes tax increases. Democrats continue to insist that they won’t vote for any such deal that doesn’t include some revenue enhancements.

Meanwhile, the deadline to reach a solution is fast approaching – the US will go into default on August 2, according to the Treasury.